NRS 274.230 Powers
of designating municipality: Cooperation with federal, state and local
governments; improving police protection; federal assistance for urban
development or training for employment; qualifications for benefits.

NRS 274.260 Proposal
by business to participate in benefits of zone; contents of proposal.

NRS 274.270 Investigation
by governing body of proposal by business to participate in benefits of zone;
requirements for hiring certain employees; review of compliance with agreement;
filing of information.

NRS 274.010Definitions.As
used in this chapter, unless the context otherwise requires, the words and
terms defined in NRS 274.020 to 274.080, inclusive, have the meanings ascribed to them
in those sections.

NRS 274.040“Designating municipality” defined.“Designating
municipality” means a city, or, with respect to the unincorporated areas of the
county, a county which designates a specially benefited zone pursuant to this
chapter.

NRS 274.070“Qualified business” defined.“Qualified
business” means any business organization qualified to receive benefits under
this chapter and which has made an agreement concerning those benefits as
provided by NRS 274.270.

1. When any federal legislation concerning
specially benefited zones is enacted and becomes effective, assist
municipalities in preparing and submitting all information and forms necessary
to permit the zone to be considered as an eligible area under the federal
program.

2. Provide information and appropriate
assistance to persons desiring to locate and engage in business in a specially
benefited zone, to persons already engaged in business in a zone and to
designated neighborhood organizations operating there.

3. In cooperation with appropriate state
and local governmental agencies, coordinate existing state and local programs
to assist businesses and assist in simplifying procedures by which businesses
within a specially benefited zone must apply for licenses and permits.

4. Publicize existing financial incentives
and programs for economic development within a zone and upon request, offer
technical assistance in the development of financial incentives and alternative
sources of revenue to local governments which have specially benefited zones
within their jurisdiction.

5. Work together with the responsible
state and federal agencies to promote the coordination of other relevant
programs, including but not limited to programs concerning housing, community
and economic development, small business, banking, financial assistance, and
training for employment which are carried on in a specially benefited zone.

1. The Administrator shall conduct a
review of state administrative regulations and shall identify those regulations
which preliminarily appear to the Administrator to:

(a) Affect the conduct of business, industry and
commerce;

(b) Impose excessive cost on either the creation
or conduct of businesses; and

(c) Inhibit the development and expansion of
business within specially benefited zones.

2. The Administrator shall conduct hearings
to solicit public comment on the regulations as part of the review.

3. No later than August 1, 1984, the
Administrator shall publish a list of regulations identified pursuant to
subsection 1. The Administrator shall transmit a copy of the list to each agency
which has adopted regulations on the list.

4. Within 90 days after the publication of
the list by the Administrator, each agency which adopted any regulation
identified therein shall file a written report with the Administrator detailing
for each identified regulation:

(a) Its need or justification;

(b) Whether the regulation is required by state
or federal law, or is discretionary, and to what extent;

(c) A synopsis of the history of the regulation,
including any internal review of it by the agency after its original adoption;

(d) Any appropriate explanation of its
relationship to other regulatory requirements; and

(e) Any available data, analysis and studies
concerning the estimated economic effect of the regulations on the business
which it is to regulate and on the public. The informational statement prepared
as required by NRS 233B.066 may be
submitted to satisfy the requirements of this paragraph if it contains a
current estimate of that economic effect.

Ê The agency’s
report is a public record and must be open to public inspection during regular
business hours.

1. No later than January 1, 1985, and from
time to time as necessary, the Administrator shall, except as provided in NRS 274.140, adopt regulations exempting businesses
within specially benefited zones from those state regulations contained in the
list published pursuant to NRS 274.110, for which
the Administrator finds that incentives for the creation of jobs or for
business development within specially benefited zones engendered by the
exemption outweigh the need and justification for the regulation. In making
such findings, the Administrator shall consider all information, data and
opinions submitted by the public and the state agencies, and any other
information otherwise available. These regulations must be in the form of
amendments to the existing state regulations to be affected, and are subject to
the provisions of chapter 233B of NRS.

2. Upon its effective date, any regulation
of the Administrator adopted under subsection 1 supersedes the exempted state
regulation in accordance with the terms of the exemption. An exemption applies
only to businesses within specially benefited zones during the effective term
of the respective zones. State agencies may not adopt emergency regulations to
circumvent an exemption granted by the Administrator. Any such emergency
regulation is not effective within the specially benefited zones to the extent
it is inconsistent with the terms of the exemption.

NRS 274.130Exemption of businesses by agency from its regulations;
regulations of Administrator supersede; modification of local ordinances and
regulations of municipality.

1. Except as provided in NRS 274.140, a state agency may provide in its
regulations for the exemption of businesses within specially benefited zones or
for modifications or alternatives specifically applicable to businesses within
those zones, which impose less stringent standards or alternative standards for
compliance, including standards based on performance as a substitute for
specific requirements concerning methods, procedures or equipment. The agency
adopting those exemptions, modifications or alternatives shall file with its
proposed regulation its findings that the proposed regulation provides economic
incentives within specially benefited zones which promote the purposes of this
chapter and which, to the extent they include any exemptions or reductions in
regulatory standards or requirements, outweigh the need or justification for
the existing regulation.

2. If any agency adopts a regulation
pursuant to subsection 1 affecting a regulation contained on the list published
by the Administrator pursuant to NRS 274.110 before
the Administrator adopts a regulation affecting the regulation on the list, the
agency shall immediately transmit a copy of its proposed regulation to the
Administrator, together with a statement of the reasons why the Administrator
should defer to the agency’s proposed regulation. Regulations adopted under
subsection 1 are subject to any superseding regulations of the Administrator
adopted under NRS 274.120.

3. Except as provided in NRS 274.140, a designating municipality may modify,
with respect to specially benefited zones, all local ordinances and regulations
regarding zoning, licensing or building codes.

1. The provisions of NRS 274.110, 274.120 and
subsection 1 of NRS 274.130 do not apply to
regulations adopted pursuant to any statute whose purpose is the protection of
the environment, the preservation of historic places and landmarks, or the
protection of persons against discrimination on the basis of race, color, religion,
sex, marital status, national origin or handicap.

2. No exemption, modification or
alternative to any regulation adopted under NRS 274.110,
274.120 or 274.130 is
effective which:

(a) Presents a significant risk to the health or
safety of persons resident in or employed within a specially benefited zone;

(b) Conflicts with federal law or regulations
such that the State, or any local government or any area of the State other
than specially benefited zones, or any business located outside of a specially
benefited zone would be disqualified from a federal program or from federal tax
benefits or other benefits;

(c) Suspends or modifies a regulation
specifically required by law; or

(d) Eliminates or reduces benefits to persons who
are residents of or employed within a zone.

1. A city, within its jurisdiction, or a
county within the unincorporated areas of the county, or municipalities
jointly, may by ordinance designate an area as a specially benefited zone,
subject to the approval of the Governor, if:

(c) Provisions for any financial incentives which
pursuant to state or federal law apply to qualified businesses within the zone
at the election of the designating municipality, and which are not applicable
throughout the municipality;

(d) A designation of the area as a specially
benefited zone, subject to the approval of the Governor; and

(e) The duration or term of the specially
benefited zone.

3. This section does not prohibit a
municipality from extending additional financial incentives in specially
benefited zones or throughout its territory by separate ordinance, if the
provision of those incentives is otherwise authorized by law.

NRS 274.170Contents of application to Governor for designation of area as
zone.A municipality which has
adopted an ordinance designating an area as a specially benefited zone shall
make written application to the Administrator to have the proposed zone
approved by the Governor as a specially benefited zone. The application must
include:

1. A certified copy of the ordinance
designating the proposed zone;

2. A map of the proposed zone, showing
existing streets and highways;

3. An analysis, and any appropriate
supporting documents and statistics, demonstrating that the proposed zone is
qualified under NRS 274.150;

4. A statement detailing any reduction,
deferral or elimination of any license or franchise tax, fee, service charge or
other financial incentives or benefits, and any programs, to be provided by the
municipality to qualified businesses within the zone, other than those provided
in the designating ordinance, which are not to be provided throughout the
municipality;

5. A statement setting forth the
objectives concerning economic development and planning for the zone;

6. A statement describing the functions,
programs and services to be performed by designated neighborhood organizations
within the zone;

7. An estimate of the economic effect of
the zone, considering all of the financial incentives or benefits and the
programs contemplated, upon the revenues of the municipality;

8. A recording or the minutes of all
public hearings on the zone;

9. In the case of a joint application, a
statement detailing the need for a zone covering portions of more than one city
or county and a description of the agreement between the joint applicants; and

10. Such additional information as the
Administrator by regulation may require.

1. All applications which are to be
considered and acted upon by the Administrator and the Governor during a
calendar year must be received by the Administrator no later than December 31
of the preceding calendar year. Any application received on or after January 1
of any calendar year must be held by the Administrator for consideration and
action during the following calendar year.

2. Upon receipt of an application from a
municipality, the Administrator shall review the application to determine
whether the designated area qualifies as a specially benefited zone under NRS 274.150 and whether to recommend approval or
denial of the application by the Governor. No later than May 1, the
Administrator shall notify all applicant municipalities of the Administrator’s
determination of the qualification of their respective designated specially
benefited zones. If any such designated area is found to be qualified to be a
specially benefited zone, the Administrator shall, no later than May 15,
publish a notice in at least one newspaper of general circulation within the
proposed zone to notify the general public of the application and their
opportunity to comment. The notice must include a description of the area and a
brief summary of the application and must indicate locations where the
applicant has provided copies of the application for public inspection. The
notice must also indicate appropriate procedures for the filing of written
comments from residents, businesses, civic and other organizations and property
owners within the zone to the Administrator.

3. By July 1 the Governor shall either
approve or deny all applications filed by December 31 of the preceding year. If
approval of an application filed by December 31 of any year is not received by
July 1 of the following year, the application shall be considered denied. If an
application is denied, the Administrator shall inform the municipality of the
specific reasons for the denial.

1. In determining which designated areas
will be approved as specially benefited zones, the Governor shall give
preference to:

(a) Areas with high levels of poverty,
unemployment, loss of jobs and population, and general distress;

(b) Areas which have evidenced the widest support
from the designating municipality, local residents and business, labor and
neighborhood organizations;

(c) Areas for which a specific plan has been
submitted to effect economic growth and expansion and neighborhood
revitalization for the benefit of residents and existing businesses within the
zone through efforts which may include but need not be limited to a reduction
or elimination of license or franchise taxes, fees or service charges, an
increase in the level and efficiency of local services, and a simplification of
governmental requirements applicable to employers or employees, taking into
account the resources available to the municipality to make those efforts;

(d) Areas for which there is evidence of prior
consultation between the municipality and business, labor and neighborhood
organizations within the proposed zone;

(e) Areas for which a specific plan has been
submitted which will or may be expected to benefit residents and employees
within the zone by increasing their opportunities for ownership of and
participation in developments within the specially benefited zone; and

(f) Areas in which specific governmental
functions are to be performed by designated neighborhood organizations in
partnership with the municipality seeking certification of an area as a
specially benefited zone.

2. The Governor’s determination of whether
to approve a specially benefited zone must be based on the purposes of this
chapter, the criteria set forth in NRS 274.150 and
subsection 1 of this section and any additional criteria adopted by regulation
of the Administrator.

NRS 274.200Certification of zone by Governor; terms and number of zones.

1. Approval of designated specially
benefited zones must be made by the Governor by certification of the
designating ordinance. The Governor shall promptly issue a certificate for each
specially benefited zone upon his or her approval. The certificate must be
signed by the Governor, must make specific reference to the designating
ordinance, which must be attached thereto, and must be filed in the Office of
the Secretary of State. A certified copy of the certificate must be recorded
with the county recorder of the county in which the specially benefited zone
lies.

2. A specially benefited zone is effective
upon its certification. The Administrator shall transmit a copy of the
certification to the Department of Taxation, the Employment Security Division
of the Department of Employment, Training and Rehabilitation and to the
designating municipality. The terms and provisions of the designating ordinance
become effective upon certification of the specially benefited zone, and may
not be amended or repealed except as otherwise provided in NRS 274.280.

3. Except as otherwise provided in NRS 274.280, the designating ordinance and the
certification remain in effect for 20 years, or for a lesser number of years
specified in the ordinance, and terminate at midnight of December 31 of the
final year of the certified term.

4. No more than eight specially benefited
zones may be approved by the Governor in any year. In any year, the Governor
may not approve more than three zones located within the same county, whether
within its cities or within the unincorporated areas, nor more than three zones
in the same city. The Governor may approve specially benefited zones in each of
the 6 years commencing with 1984. Thereafter, the Governor may not approve any
additional specially benefited zones, but may amend or rescind certifications
of existing zones as provided in NRS 274.280.

NRS 274.210Program for training and employment of residents in zone; report
to municipality and Legislative Commission.

1. In order to stimulate opportunities for
employment for residents of a specially benefited zone, the Administrator shall
initiate a test of a program for the reimbursement of vouchers for the cost of
training residents of the zone eligible under the provisions of the Internal
Revenue Code concerning tax credits for the employment of members of targeted
groups in private industry. This program must not be designed to subsidize
businesses, but is intended to make available opportunities for jobs and
training not otherwise available. Nothing in this subsection requires
businesses within a zone to utilize this program.

2. The program described in subsection 1
must be designed:

(a) For those persons whose opportunities for
obtaining employment are minimal without participation in the program;

(b) To minimize the period during which those
persons collect benefits under programs for public assistance; and

(c) To accelerate the transition of those persons
to unsubsidized employment.

Ê The
Administrator shall seek agreement with business, organized labor and the
appropriate state and local agencies on the design, operation and evaluation of
the test program.

3. A report with recommendations,
including representative comments of governmental agencies and business and
labor organizations, must be submitted by the Administrator to the designating
municipality and the Legislative Commission not later than 12 months after the
test program commences, or not later than 3 months following the termination of
the test program, whichever first occurs.

NRS 274.230Powers of designating municipality: Cooperation with federal,
state and local governments; improving police protection; federal assistance
for urban development or training for employment; qualifications for benefits.When a specially benefited zone is designated
and approved under this chapter, the governing body of the designating
municipality may:

1. Apply with the United States Department
of Commerce to have the specially benefited zone declared to be a free trade
zone.

2. When any federal legislation concerning
specially benefited zones is enacted or becomes effective, prepare and submit,
with the assistance of the Administrator and in a timely fashion, all
information and forms necessary to permit the specially benefited zone
designated and approved under this chapter to be considered as an eligible area
under the federal program.

3. Apply for all available assistance from
the federal, state, and in the case of a city, the county government, including
the suspension or modification of their regulations within the specially
benefited zone that have the characteristics described in subsection 1 of NRS 274.110.

4. Develop and carry out a program to
improve police protection within the zone.

5. Give priority to the use in the zone of
any federal assistance for urban development or job training.

6. By ordinance adopt regulations for
qualifying employers for the benefits authorized specifically for qualified
businesses under this chapter and NRS
374.643.

1. Issue bonds or other securities
authorized by other law for the purposes of economic development and use the
proceeds for loans to any new or expanding qualified businesses in the
specially benefited zone.

2. Reduce or eliminate any license or
franchise tax, fee or service charge which would otherwise be imposed against
qualified businesses within the specially benefited zone.

3. Develop and carry out, alone or where
feasible with the participation of one or more designated neighborhood
organizations as provided in NRS 274.250, programs
to improve needed governmental services within the specially benefited zone.

4. Develop and carry out a plan to:

(a) Ensure the availability of resources to assist
residents of the specially benefited zone in their own efforts to improve the
condition of property and the availability and quality of public services
within the zone.

(b) Provide or seek assistance for persons or
businesses displaced as a result of undertakings or other activities conducted
pursuant to this chapter.

1. A designating municipality may, by
ordinance, delegate one or more of the services or functions described in
subsection 2 to one or more qualified private organizations. For the purposes
of this section, an organization is qualified if:

(a) Its constituency is composed substantially of
residents of the specially benefited zone;

(b) It has a governing body elected by its
constituents;

(c) It meets the requirements of paragraph (3) of
subsection (c) of section 501 of the Internal Revenue Code; and

(d) It exists primarily to perform services
within the zone for the benefit of its residents and businesses.

2. A designated neighborhood organization
may be authorized to provide the following services or perform the following
functions in coordination with the municipality:

(a) Provide or contract for the provision of
public services including, but not limited to:

(1) The establishment of patrols to watch
for crime in neighborhoods within the specially benefited zone.

(2) The establishment of volunteer day
care centers.

(3) The organization of recreational
activities for children living within the zone.

(4) Garbage collection.

(5) Street maintenance and improvement.

(6) The maintenance and improvement of
parks, bridges and water and sewer lines.

(7) Projects for the conservation of
energy.

(8) Health and clinical services.

(9) Programs to combat drug abuse.

(10) Programs to assist older residents of
the zone.

(11) The rehabilitation, renovation,
operation and maintenance of housing for persons of low and moderate income.

(12) Other types of public services as
provided by ordinance.

(b) Exercise authority for the enforcement of any
code, permit or procedure for licensing within a specially benefited zone.

(c) Provide a forum for action by business, labor
and government on innovations for the zone.

NRS 274.260Proposal by business to participate in benefits of zone;
contents of proposal.Any business
that wishes to participate in the benefits specifically authorized for qualified
businesses in this chapter must first submit a proposal to the governing body
of the designating municipality. The proposal must contain the following
information:

1. An estimate of the number of new
employees whom the business intends to hire for its place of business within
the specially benefited zone and an estimate of the amount of payroll these
hirings will add to the business.

2. An estimate of the amount to be
invested by the business to establish, expand, renovate or occupy a place of
business within the specially benefited zone, including investment in new
buildings, additions, or improvements to existing buildings, machinery,
equipment, furniture, fixtures and inventory.

3. A listing of the business’ current
investment, if any, in a place of business within the specially benefited zone
as of the date of the submission of the proposal. The business shall review and
keep current the estimates and listings required under this subsection to
reflect material changes, and any agreement entered into pursuant to NRS 274.270 must set forth final estimates and
listings as of the time the agreement is entered.

NRS 274.270Investigation by governing body of proposal by business to
participate in benefits of zone; requirements for hiring certain employees;
review of compliance with agreement; filing of information.

1. The governing body shall investigate
the proposal made by a business pursuant to NRS 274.260,
and if it finds that the business is qualified by financial responsibility and
business experience to create and preserve employment opportunities in the
specially benefited zone and improve the economic climate of the municipality
and finds further that the business did not relocate from a depressed area in
this State or reduce employment elsewhere in Nevada in order to expand in the
specially benefited zone, the governing body may, on behalf of the
municipality, enter into an agreement with the business, for a period of not
more than 20 years, under which the business agrees in return for one or more
of the benefits authorized in this chapter and NRS 374.643 for qualified businesses, as
specified in the agreement, to establish, expand, renovate or occupy a place of
business within the specially benefited zone and hire new employees at least 35
percent of whom at the time they are employed are at least one of the
following:

(a) Unemployed persons who have resided at least
6 months in the municipality.

(b) Persons eligible for employment or job
training under any federal program for employment and training who have resided
at least 6 months in the municipality.

(c) Recipients of benefits under any state or
county program of public assistance, including, without limitation, temporary
assistance for needy families, Medicaid and unemployment compensation who have
resided at least 6 months in the municipality.

(d) Persons with a physical or intellectual
disability who have resided at least 6 months in the State.

(e) Residents for at least 1 year of the area
comprising the specially benefited zone.

2. To determine whether a business is in
compliance with an agreement, the governing body:

(a) Shall each year require the business to file
proof satisfactory to the governing body of its compliance with the agreement.

(b) May conduct any necessary investigation into
the affairs of the business and may inspect at any reasonable hour its place of
business within the specially benefited zone.

Ê If the
governing body determines that the business is in compliance with the
agreement, it shall issue a certificate to that effect to the business. The
certificate expires 1 year after the date of its issuance.

3. The governing body shall file with the
Administrator, the Department of Taxation and the Employment Security Division
of the Department of Employment, Training and Rehabilitation a copy of each
agreement, the information submitted under paragraph (a) of subsection 2 and
the current certificate issued to the business under that subsection. The
governing body shall immediately notify the Administrator, the Department of
Taxation and the Employment Security Division of the Department of Employment,
Training and Rehabilitation whenever the business is no longer certified.

1. The terms of a certified ordinance
designating a specially benefited zone may be amended to:

(a) Alter the boundaries of the zone;

(b) Limit or repeal financial incentives or
benefits provided in the ordinance; or

(c) Alter the date for terminating the zone.

Ê The
amendment does not become effective unless the Governor issues an amended
certificate for the zone. Upon the adoption of the amendment, the municipality
shall promptly file with the Administrator an application for approval thereof,
containing substantially the same information as required for an application
under NRS 274.170 insofar as material to the
proposed changes. The municipality must hold a public hearing on the proposed
changes as specified in NRS 274.160.

2. The Governor shall approve or
disapprove a proposed amendment to a certified specially benefited zone within
90 days after receiving the application from the municipality. The Governor may
not approve changes in a zone which are not in conformity with this chapter or
with other applicable laws. If the Governor issues an amended certificate for a
specially benefited zone, the amended certificate, together with the amended
designating ordinance, must be filed, recorded and transmitted as provided in NRS 274.200.

NRS 274.290Termination of zone.A
specially benefited zone may be terminated by joint action of the Governor and
the designating municipality. The designating municipality shall conduct at
least one public hearing within the zone before adopting its ordinance of
termination. The mayor of the designating city or the chair of the governing
body of the designating county shall execute with the Administrator a joint
agreement for termination of the zone. The termination of a specially benefited
zone does not become effective until at least 6 months after the execution of
the terminating agreement, which must be filed in the Office of the Secretary
of State.

NRS 274.300Effect upon benefits if zone terminated or modified or benefits
reduced or eliminated.Where a
specially benefited zone is terminated under NRS
274.290, or the length of the term or the area of a zone is reduced, or the
benefits available in a zone are reduced or eliminated:

1. All benefits previously extended within
the zone pursuant to this chapter, or pursuant to any other law of this State
providing benefits specifically to qualified businesses within specially
benefited zones, remain in effect for the original stated term of the zone with
respect to those qualified businesses operating within the zone on the effective
date of the termination or amendment, except as provided in subsection 2.

2. A qualified business which is proposed
or which has proposed an expansion is entitled to the benefits previously
applicable within the zone for the original stated term of the zone, if the
business establishes that:

(a) The proposed business or expansion has been
committed to be located within the zone;

(b) Substantial and binding financial obligations
have been made towards the development of the business or the expansion; and

(c) Those commitments have been made in
reasonable reliance on the benefits and programs which were to have been
applicable to the business by reason of the zone, including in the case of a
reduction in the term of a zone, the original length of the term.

(c) An area eligible for a community development
block grant pursuant to 24 C.F.R. Part 570; or

(d) An enterprise community established pursuant
to 24 C.F.R. Part 597,

Ê may submit a
request to the governing body of the county, city or town in which the business
would operate for an endorsement of an application by the person to the Office
of Economic Development for a partial abatement of one or more of the taxes
imposed pursuant to chapter 361 or 374 of NRS. The governing body of the county,
city or town shall provide notice of the request to the board of trustees of
the school district in which the business would operate. The notice must set
forth the date, time and location of the hearing at which the governing body
will consider whether to endorse the application.

2. The governing body of a county, city or
town shall develop procedures for:

(a) Evaluating whether such an abatement would be
beneficial for the economic development of the county, city or town.

(b) Issuing a certificate of endorsement for an
application for such an abatement that is found to be beneficial for the
economic development of the county, city or town.

3. A person whose application has been
endorsed by the governing body of the county, city or town, as applicable,
pursuant to this section may submit the application to the Office of Economic
Development. The Office shall approve the application if the Office makes the
following determinations:

(a) The business is consistent with:

(1) The State Plan for Economic
Development developed by the Administrator pursuant to subsection 2 of NRS 231.053; and

(2) Any guidelines adopted by the
Administrator to implement the State Plan for Economic Development.

(b) The applicant has executed an agreement with
the Office which states:

(1) The date on which the abatement
becomes effective, as agreed to by the applicant and the Office, which must not
be earlier than the date on which the Office received the application; and

(2) That the business will, after the date
on which the abatement becomes effective:

(I) Commence operation and continue
in operation in the historically underutilized business zone, as defined in 15
U.S.C. § 632, redevelopment area created pursuant to chapter 279 of NRS, area eligible for a
community development block grant pursuant to 24 C.F.R. Part 570 or enterprise
community established pursuant to 24 C.F.R. Part 597 for a period specified by
the Office, which must be at least 5 years; and

(II) Continue to meet the
eligibility requirements set forth in this subsection.

Ê The
agreement must bind successors in interest of the business for the specified
period.

(c) The business is registered pursuant to the
laws of this State or the applicant commits to obtain a valid business license
and all other permits required by the county, city or town in which the
business will operate.

(d) The applicant invested or commits to invest a
minimum of $500,000 in capital assets that will be retained at the location of
the business in the historically underutilized business zone, as defined in 15
U.S.C. § 632, redevelopment area created pursuant to chapter 279 of NRS, area eligible for a
community development block grant pursuant to 24 C.F.R. Part 570 or enterprise
community established pursuant to 24 C.F.R. Part 597 until at least the date
which is 5 years after the date on which the abatement becomes effective.

4. If the Office of Economic Development
approves an application for a partial abatement, the Office shall immediately
forward a certificate of eligibility for the abatement to:

(a) The Department of Taxation;

(b) The Nevada Tax Commission; and

(c) If the partial abatement is from the property
tax imposed pursuant to chapter 361 of NRS,
the county treasurer of the county in which the business will be located.

5. If the Office of Economic Development
approves an application for a partial abatement pursuant to this section:

(a) The partial abatement must be for a duration
of not less than 1 year but not more than 5 years.

(b) If the abatement is from the property tax
imposed pursuant to chapter 361 of NRS, the
partial abatement must not exceed 75 percent of the taxes on personal property
payable by a business each year pursuant to that chapter.

6. If a business whose partial abatement
has been approved pursuant to this section and is in effect ceases:

(a) To meet the eligibility requirements for the
partial abatement; or

(b) Operation before the time specified in the
agreement described in paragraph (b) of subsection 3,

Ê the business
shall repay to the Department of Taxation or, if the partial abatement was from
the property tax imposed pursuant to chapter 361
of NRS, to the county treasurer, the amount of the exemption that was allowed
pursuant to this section before the failure of the business to comply unless
the Nevada Tax Commission determines that the business has substantially
complied with the requirements of this section. Except as otherwise provided in
NRS 360.232 and 360.320, the business shall, in addition
to the amount of the exemption required to be paid pursuant to this subsection,
pay interest on the amount due at the rate most recently established pursuant
to NRS 99.040 for each month, or
portion thereof, from the last day of the month following the period for which
the payment would have been made had the partial abatement not been approved
until the date of payment of the tax.

7. The Office of Economic Development may
adopt such regulations as the Office determines to be necessary or advisable to
carry out the provisions of this section.

8. An applicant for an abatement who is
aggrieved by a final decision of the Office of Economic Development may
petition for judicial review in the manner provided in chapter 233B of NRS.

(c) An area eligible for a community development
block grant pursuant to 24 C.F.R. Part 570; or

(d) An enterprise community established pursuant
to 24 C.F.R. Part 597,

Ê may submit a
request to the governing body of the county, city or town in which the business
would operate for an endorsement of an application by the person to the Office
of Economic Development for a partial abatement of one or more of the taxes
imposed pursuant to chapter 361 or 374 of NRS. The governing body of the county,
city or town shall provide notice of the request to the board of trustees of
the school district in which the business would operate. The notice must set
forth the date, time and location of the hearing at which the governing body
will consider whether to endorse the application.

2. The governing body of a county, city or
town shall develop procedures for:

(a) Evaluating whether such an abatement would be
beneficial for the economic development of the county, city or town.

(b) Issuing a certificate of endorsement for an
application for such an abatement that is found to be beneficial for the economic
development of the county, city or town.

3. A person whose application has been
endorsed by the governing body of the county, city or town, as applicable,
pursuant to this section may submit the application to the Office of Economic
Development. The Office shall approve the application if the Office makes the
following determinations:

(a) The business is consistent with:

(1) The State Plan for Economic
Development developed by the Administrator pursuant to subsection 2 of NRS 231.053; and

(2) Any guidelines adopted by the
Administrator to implement the State Plan for Economic Development.

(b) The applicant has executed an agreement with
the Office which states:

(1) The date on which the abatement
becomes effective, as agreed to by the applicant and the Office, which must not
be earlier than the date on which the Office received the application; and

(2) That the business will, after the date
on which a certificate of eligibility for the abatement is issued pursuant to
subsection 4:

(I) Commence operation and continue
in operation in the historically underutilized business zone, as defined in 15
U.S.C. § 632, redevelopment area created pursuant to chapter 279 of NRS, area eligible for a
community development block grant pursuant to 24 C.F.R. Part 570 or enterprise
community established pursuant to 24 C.F.R. Part 597 for a period specified by
the Office, which must be at least 5 years; and

(II) Continue to meet the
eligibility requirements set forth in this subsection.

Ê The
agreement must bind successors in interest of the business for the specified
period.

(c) The business is registered pursuant to the
laws of this State or the applicant commits to obtain a valid business license
and all other permits required by the county, city or town in which the
business will operate.

(d) The applicant invested or commits to invest a
minimum of $500,000 in capital.

4. If the Office of Economic Development
approves an application for a partial abatement, the Office shall immediately
forward a certificate of eligibility for the abatement to:

(a) The Department of Taxation;

(b) The Nevada Tax Commission; and

(c) If the partial abatement is from the property
tax imposed pursuant to chapter 361 of NRS,
the county treasurer of the county in which the business will be located.

5. If a business whose partial abatement has
been approved pursuant to this section and is in effect ceases:

(a) To meet the eligibility requirements for the
partial abatement; or

(b) Operation before the time specified in the
agreement described in paragraph (b) of subsection 3,

Ê the business
shall repay to the Department of Taxation or, if the partial abatement was from
the property tax imposed pursuant to chapter 361
of NRS, to the county treasurer, the amount of the exemption that was allowed
pursuant to this section before the failure of the business to comply unless
the Nevada Tax Commission determines that the business has substantially
complied with the requirements of this section. Except as otherwise provided in
NRS 360.232 and 360.320, the business shall, in addition
to the amount of the exemption required to be paid pursuant to this subsection,
pay interest on the amount due at the rate most recently established pursuant
to NRS 99.040 for each month, or
portion thereof, from the last day of the month following the period for which
the payment would have been made had the partial abatement not been approved
until the date of payment of the tax.

6. The Office of Economic Development may
adopt such regulations as the Office determines to be necessary or advisable to
carry out the provisions of this section.

7. An applicant for an abatement who is
aggrieved by a final decision of the Office of Economic Development may
petition for judicial review in the manner provided in chapter 233B of NRS.

(c) An area eligible for a community development
block grant pursuant to 24 C.F.R. Part 570; or

(d) An enterprise community established pursuant
to 24 C.F.R. Part 597,

Ê may submit a
request to the governing body of the county, city or town in which the business
operates for an endorsement of an application by the person to the Office of
Economic Development for a partial abatement of the taxes imposed on capital
equipment pursuant to chapter 374 of NRS. The
governing body of the county, city or town shall provide notice of the request
to the board of trustees of the school district in which the business operates.
The notice must set forth the date, time and location of the hearing at which
the governing body will consider whether to endorse the application.

2. The governing body of a county, city or
town shall develop procedures for:

(a) Evaluating whether such an abatement would be
beneficial for the economic development of the county, city or town.

(b) Issuing a certificate of endorsement for an
application for such an abatement that is found to be beneficial for the
economic development of the county, city or town.

3. A person whose application has been
endorsed by the governing body of the county, city or town, as applicable,
pursuant to this section may submit the application to the Office of Economic
Development. The Office shall approve the application if the Office makes the
following determinations:

(a) The business is consistent with:

(1) The State Plan for Economic
Development developed by the Administrator pursuant to subsection 2 of NRS 231.053; and

(2) Any guidelines adopted by the
Administrator to implement the State Plan for Economic Development.

(b) The applicant has executed an agreement with
the Office which states:

(1) The date on which the abatement
becomes effective, as agreed to by the applicant and the Office, which must not
be earlier than the date on which the Office received the application; and

(2) That the business will, after the date
on which the abatement becomes effective:

(I) Continue in operation in the
historically underutilized business zone, as defined in 15 U.S.C. § 632,
redevelopment area created pursuant to chapter
279 of NRS, area eligible for a community development block grant pursuant
to 24 C.F.R. Part 570 or enterprise community established pursuant to 24 C.F.R.
Part 597 for a period specified by the Office, which must be at least 5 years;
and

(II) Continue to meet the
eligibility requirements set forth in this subsection.

Ê The
agreement must bind successors in interest of the business for the specified
period.

(c) The business is registered pursuant to the
laws of this State or the applicant commits to obtain a valid business license
and all other permits required by the county, city or town in which the
business operates.

(d) The applicant invested or commits to invest a
minimum of $250,000 in capital equipment that will be retained at the location
of the business in the historically underutilized business zone, as defined in
15 U.S.C. § 632, redevelopment area created pursuant to chapter 279 of NRS, area eligible for a
community development block grant pursuant to 24 C.F.R. Part 570 or enterprise
community established pursuant to 24 C.F.R. Part 597 until at least the date
which is 5 years after the date on which the abatement becomes effective.

4. If the Office of Economic Development
approves an application for a partial abatement, the Office shall immediately
forward a certificate of eligibility for the abatement to:

(a) The Department of Taxation; and

(b) The Nevada Tax Commission.

5. If the Office of Economic Development
approves an application for a partial abatement pursuant to this section:

(a) The partial abatement must be for a duration
of not less than 1 year but not more than 5 years.

(b) If the abatement is from the property tax
imposed pursuant to chapter 361 of NRS, the
partial abatement must not exceed 75 percent of the taxes on personal property
payable by a business each year pursuant to that chapter.

6. If a business whose partial abatement
has been approved pursuant to this section and is in effect ceases:

(a) To meet the eligibility requirements for the
partial abatement; or

(b) Operation before the time specified in the
agreement described in paragraph (b) of subsection 3,

Ê the business
shall repay to the Department of Taxation the amount of the exemption that was
allowed pursuant to this section before the failure of the business to comply
unless the Nevada Tax Commission determines that the business has substantially
complied with the requirements of this section. Except as otherwise provided in
NRS 360.232 and 360.320, the business shall, in addition
to the amount of the exemption required to be paid pursuant to this subsection,
pay interest on the amount due at the rate most recently established pursuant
to NRS 99.040 for each month, or
portion thereof, from the last day of the month following the period for which
the payment would have been made had the partial abatement not been approved
until the date of payment of the tax.

7. The Office of Economic Development may
adopt such regulations as the Office determines to be necessary or advisable to
carry out the provisions of this section.

8. An applicant for an abatement who is
aggrieved by a final decision of the Office of Economic Development may
petition for judicial review in the manner provided in chapter 233B of NRS.

(c) An area eligible for a community development
block grant pursuant to 24 C.F.R. Part 570; or

(d) An enterprise community established pursuant
to 24 C.F.R. Part 597,

Ê may submit a
request to the governing body of the county, city or town in which the business
operates for an endorsement of an application by the person to the Office of
Economic Development for a partial abatement of the taxes imposed on capital
equipment pursuant to chapter 374 of NRS. The
governing body of the county, city or town shall provide notice of the request
to the board of trustees of the school district in which the business operates.
The notice must set forth the date, time and location of the hearing at which
the governing body will consider whether to endorse the application.

2. The governing body of a county, city or
town shall develop procedures for:

(a) Evaluating whether such an abatement would be
beneficial for the economic development of the county, city or town.

(b) Issuing a certificate of endorsement for an
application for such an abatement that is found to be beneficial for the
economic development of the county, city or town.

3. A person whose application has been
endorsed by the governing body of the county, city or town, as applicable,
pursuant to this section may submit the application to the Office of Economic
Development. The Office shall approve the application if the Office makes the
following determinations:

(a) The business is consistent with:

(1) The State Plan for Economic
Development developed by the Administrator pursuant to subsection 2 of NRS 231.053; and

(2) Any guidelines adopted by the
Administrator to implement the State Plan for Economic Development.

(b) The applicant has executed an agreement with
the Office which states:

(1) The date on which the abatement
becomes effective, as agreed to by the applicant and the Office, which must not
be earlier than the date on which the Office received the application; and

(2) That the business will, after the date
on which a certificate of eligibility for the abatement is issued pursuant to
subsection 4:

(I) Continue in operation in the
historically underutilized business zone, as defined in 15 U.S.C. § 632,
redevelopment area created pursuant to chapter
279 of NRS, area eligible for a community development block grant pursuant
to 24 C.F.R. Part 570 or enterprise community established pursuant to 24 C.F.R.
Part 597 for a period specified by the Office, which must be at least 5 years;
and

(II) Continue to meet the
eligibility requirements set forth in this subsection.

Ê The
agreement must bind successors in interest of the business for the specified
period.

(c) The business is registered pursuant to the
laws of this State or the applicant commits to obtain a valid business license
and all other permits required by the county, city or town in which the
business operates.

(d) The applicant invested or commits to invest a
minimum of $250,000 in capital equipment.

4. If the Office of Economic Development
approves an application for a partial abatement, the Office shall immediately
forward a certificate of eligibility for the abatement to:

(a) The Department of Taxation; and

(b) The Nevada Tax Commission.

5. If a business whose partial abatement
has been approved pursuant to this section and is in effect ceases:

(a) To meet the eligibility requirements for the
partial abatement; or

(b) Operation before the time specified in the
agreement described in paragraph (b) of subsection 3,

Ê the business
shall repay to the Department of Taxation the amount of the exemption that was
allowed pursuant to this section before the failure of the business to comply
unless the Nevada Tax Commission determines that the business has substantially
complied with the requirements of this section. Except as otherwise provided in
NRS 360.232 and 360.320, the business shall, in addition
to the amount of the exemption required to be paid pursuant to this subsection,
pay interest on the amount due at the rate most recently established pursuant
to NRS 99.040 for each month, or
portion thereof, from the last day of the month following the period for which
the payment would have been made had the partial abatement not been approved
until the date of payment of the tax.

6. The Office of Economic Development may
adopt such regulations as the Office determines to be necessary or advisable to
carry out the provisions of this section.

7. An applicant for an abatement who is
aggrieved by a final decision of the Office of Economic Development may
petition for judicial review in the manner provided in chapter 233B of NRS.

1. A person who owns a business which is
located within an enterprise community established pursuant to 24 C.F.R. Part
597 in this State may submit a request to the governing body of the county,
city or town in which the business is located for an endorsement of an
application by the person to the Office of Economic Development for a partial
abatement of one or more of the taxes imposed pursuant to chapter 361 or 374
of NRS. The governing body of the county, city or town shall provide notice of
the request to the board of trustees of the school district in which the
business operates. The notice must set forth the date, time and location of the
hearing at which the governing body will consider whether to endorse the
application.

2. The governing body of a county, city or
town shall develop procedures for:

(a) Evaluating whether such an abatement would be
beneficial for the economic development of the county, city or town.

(b) Issuing a certificate of endorsement for an
application for such an abatement that is found to be beneficial for the
economic development of the county, city or town.

3. A person whose application has been
endorsed by the governing body of the county, city or town, as applicable,
pursuant to this section may submit the application to the Office of Economic
Development. The Office shall approve the application if the Office makes the
following determinations:

(a) The business is consistent with:

(1) The State Plan for Economic
Development developed by the Administrator pursuant to subsection 2 of NRS 231.053; and

(2) Any guidelines adopted by the Administrator
to implement the State Plan for Economic Development.

(b) The applicant has executed an agreement with
the Office which states:

(1) The date on which the abatement
becomes effective, as agreed to by the applicant and the Office, which must not
be earlier than the date on which the Office received the application; and

(2) That the business will, after the date
on which the abatement becomes effective:

(I) Continue in operation in the
enterprise community for a period specified by the Office, which must be at
least 5 years; and

(II) Continue to meet the
eligibility requirements set forth in this subsection.

Ê The
agreement must bind successors in interest of the business for the specified
period.

(c) The business is registered pursuant to the
laws of this State or the applicant commits to obtain a valid business license
and all other permits required by the county, city or town in which the
business operates.

(d) The business:

(1) Employs one or more dislocated workers
who reside in the enterprise community; and

(2) Pays such employees a wage of not less
than 100 percent of the federally designated level signifying poverty for a
family of four persons and provides medical benefits to the employees and their
dependents which meet the minimum requirements for medical benefits established
by the Office.

4. If the Office of Economic Development
approves an application for a partial abatement, the Office shall:

(a) Determine the percentage of employees of the
business which meet the requirements of paragraph (d) of subsection 3 and grant
a partial abatement equal to that percentage; and

(b) Immediately forward a certificate of
eligibility for the abatement to:

(1) The Department of Taxation;

(2) The Nevada Tax Commission; and

(3) If the partial abatement is from the
property tax imposed pursuant to chapter 361
of NRS, the county treasurer of the county in which the business is located.

5. If the Office of Economic Development
approves an application for a partial abatement pursuant to this section:

(a) The partial abatement must be for a duration
of not less than 1 year but not more than 5 years.

(b) If the abatement is from the property tax
imposed pursuant to chapter 361 of NRS, the
partial abatement must not exceed 75 percent of the taxes on personal property
payable by a business each year pursuant to that chapter.

6. If a business whose partial abatement has
been approved pursuant to this section and is in effect ceases:

(a) To meet the eligibility requirements for the
partial abatement; or

(b) Operation before the time specified in the
agreement described in paragraph (b) of subsection 3,

Ê the business
shall repay to the Department of Taxation or, if the partial abatement was from
the property tax imposed pursuant to chapter 361
of NRS, to the county treasurer, the amount of the exemption that was allowed
pursuant to this section before the failure of the business to comply unless
the Nevada Tax Commission determines that the business has substantially
complied with the requirements of this section. Except as otherwise provided in
NRS 360.232 and 360.320, the business shall, in addition
to the amount of the exemption required to be paid pursuant to this subsection,
pay interest on the amount due at the rate most recently established pursuant
to NRS 99.040 for each month, or
portion thereof, from the last day of the month following the period for which
the payment would have been made had the partial abatement not been approved
until the date of payment of the tax.

7. The Office of Economic Development:

(a) Shall adopt regulations relating to the
minimum level of benefits that a business must provide to its employees to
qualify for an abatement pursuant to this section.

(b) May adopt such other regulations as the
Office determines to be necessary or advisable to carry out the provisions of
this section.

8. An applicant for an abatement who is
aggrieved by a final decision of the Office of Economic Development may
petition for judicial review in the manner provided in chapter 233B of NRS.

9. As used in this section, “dislocated
worker” means a person who:

(a) Has been terminated, laid off or received
notice of termination or layoff from employment;

(b) Is eligible for or receiving or has exhausted
his or her entitlement to unemployment compensation;

(c) Has been dependent on the income of another
family member but is no longer supported by that income;

(d) Has been self-employed but is no longer
receiving an income from self-employment because of general economic conditions
in the community or natural disaster; or

(e) Is currently unemployed and unable to return
to a previous industry or occupation.

1. A person who owns a business which is
located within an enterprise community established pursuant to 24 C.F.R. Part 597
in this State may submit a request to the governing body of the county, city or
town in which the business is located for an endorsement of an application by
the person to the Office of Economic Development for a partial abatement of one
or more of the taxes imposed pursuant to chapter
361 or 374 of NRS. The governing body of
the county, city or town shall provide notice of the request to the board of
trustees of the school district in which the business operates. The notice must
set forth the date, time and location of the hearing at which the governing
body will consider whether to endorse the application.

2. The governing body of a county, city or
town shall develop procedures for:

(a) Evaluating whether such an abatement would be
beneficial for the economic development of the county, city or town.

(b) Issuing a certificate of endorsement for an
application for such an abatement that is found to be beneficial for the
economic development of the county, city or town.

3. A person whose application has been
endorsed by the governing body of the county, city or town, as applicable,
pursuant to this section may submit the application to the Office of Economic
Development. The Office shall approve the application if the Office makes the
following determinations:

(a) The business is consistent with:

(1) The State Plan for Economic
Development developed by the Administrator pursuant to subsection 2 of NRS 231.053; and

(2) Any guidelines adopted by the
Administrator to implement the State Plan for Economic Development.

(b) The applicant has executed an agreement with
the Office which states:

(1) The date on which the abatement
becomes effective, as agreed to by the applicant and the Office, which must not
be earlier than the date on which the Office received the application; and

(2) That the business will, after the date
on which a certificate of eligibility for the abatement is issued pursuant to
subsection 4:

(I) Continue in operation in the
enterprise community for a period specified by the Office, which must be at
least 5 years; and

(II) Continue to meet the
eligibility requirements set forth in this subsection.

Ê The
agreement must bind successors in interest of the business for the specified
period.

(c) The business is registered pursuant to the
laws of this State or the applicant commits to obtain a valid business license
and all other permits required by the county, city or town in which the
business operates.

(d) The business:

(1) Employs one or more dislocated workers
who reside in the enterprise community; and

(2) Pays such employees a wage of not less
than 100 percent of the federally designated level signifying poverty for a
family of four persons and provides medical benefits to the employees and their
dependents which meet the minimum requirements for medical benefits established
by the Office.

4. If the Office of Economic Development
approves an application for a partial abatement, the Office shall:

(a) Determine the percentage of employees of the
business which meet the requirements of paragraph (d) of subsection 3 and grant
a partial abatement equal to that percentage; and

(b) Immediately forward a certificate of
eligibility for the abatement to:

(1) The Department of Taxation;

(2) The Nevada Tax Commission; and

(3) If the partial abatement is from the
property tax imposed pursuant to chapter 361
of NRS, the county treasurer of the county in which the business is located.

5. If a business whose partial abatement
has been approved pursuant to this section and is in effect ceases:

(a) To meet the eligibility requirements for the
partial abatement; or

(b) Operation before the time specified in the
agreement described in paragraph (b) of subsection 3,

Ê the business
shall repay to the Department of Taxation or, if the partial abatement was from
the property tax imposed pursuant to chapter 361
of NRS, to the county treasurer, the amount of the exemption that was allowed
pursuant to this section before the failure of the business to comply unless
the Nevada Tax Commission determines that the business has substantially
complied with the requirements of this section. Except as otherwise provided in
NRS 360.232 and 360.320, the business shall, in addition
to the amount of the exemption required to be paid pursuant to this subsection,
pay interest on the amount due at the rate most recently established pursuant
to NRS 99.040 for each month, or
portion thereof, from the last day of the month following the period for which
the payment would have been made had the partial abatement not been approved
until the date of payment of the tax.

6. The Office of Economic Development:

(a) Shall adopt regulations relating to the
minimum level of benefits that a business must provide to its employees to
qualify for an abatement pursuant to this section.

(b) May adopt such other regulations as the
Office determines to be necessary or advisable to carry out the provisions of
this section.

7. An applicant for an abatement who is
aggrieved by a final decision of the Office of Economic Development may
petition for judicial review in the manner provided in chapter 233B of NRS.

8. As used in this section, “dislocated
worker” means a person who:

(a) Has been terminated, laid off or received
notice of termination or layoff from employment;

(b) Is eligible for or receiving or has exhausted
his or her entitlement to unemployment compensation;

(c) Has been dependent on the income of another
family member but is no longer supported by that income;

(d) Has been self-employed but is no longer
receiving an income from self-employment because of general economic conditions
in the community or natural disaster; or

(e) Is currently unemployed and unable to return
to a previous industry or occupation.